For free and fair sports
S Vishnu Sharmaa, INN/Chennai, @Svs037
Federation of Indian Chamber of Commerce and Industry (FICCI) in association with All India Gaming Federation (AIGF) organised a knowledge session on ‘integrity in sports.’ Senior parliament member Shashi Tharoor said long-term prognosis for sports and betting is bleak if corruption is not dealt with.
While self-regulatory practices need to be followed by the industry, there is an urgent need to have a statutory framework with government oversight to ensure service providers are following license conditions to track suspicious betting patterns and to have some control over the money flow to curb the generation of black money.
Sharing insights on Sports (Online Gaming and Prevention of Fraud) Bill Tharoor said it seeks to introduce an effective administration to protect the integrity of sports by preventing and penalising sports fraud, while at the same time regulating the online market for sports betting.
Former Indian footballer Mr. Bhaichung Bhutia said regularizing the gaming industry will lead to revenue generation for the state, which should be further used in development of the sports industry.
I hope that the government will see this as an opportunity to support the sports industry, he said. All India Gaming Federation, CEO, Mr. Roland Landers said with the proliferation of sports leagues and the development of the sports ecosystem in India, it has become a major source of commerce and revenue for many entities, especially in the field of betting or gaming in connection with sporting events.
Though each Indian state have their own Gaming Acts, what is ideally required is a Central regulation. Advocate Amar Gehlot from Lakshmikumaran and Sridharan Attorneys presented a paper on economic impact of regulating gambling and betting. Mr. Siddhart Upadhyay, Co-Chair, FICCI Sports committee said they have been a torchbearer in the field of sports development and have been propagating the idea of sports as an industry.